The Garage
YUM (NYSE) · Plano, Texas (formerly Louisville, Kentucky)

KFC

Colonel Sanders was rejected over 1,000 times. Started franchising at 65. Built a fried chicken empire. Then sold it for $2 million and spent the rest of his life complaining about the gravy.

Founded 1952
By Colonel Harland Sanders
Live Price
Today
Symbol
YUM (NYSE)
1890
The man who failed at everything — until he didn't
Harland David Sanders was born in 1890 in Henryville, Indiana. His father died when Harland was 6, leaving him to cook for his younger siblings. He dropped out of school at 12, left home at 13, and spent the following decades accumulating an extraordinary record of failed ventures: railroad worker, streetcar conductor, insurance salesman (fired), ferry boat operator (made obsolete by a bridge), oil lamp manufacturer (obsoleted by electricity), lawyer (disbarred after a courtroom fight with his own client). In 1930, aged 40, he converted a Shell filling station in Corbin, Kentucky, into a small diner, cooking for travellers who stopped for petrol. His fried chicken, pressure-cooked using his own recipe, became locally famous.
1952
Rejected 1,009 times — then the first franchise
When Interstate 75 bypassed his Corbin restaurant in the mid-1950s, Sanders was left with nearly nothing at age 65 — too old to start again in most people's estimation. He drove across the United States, stopping at restaurants, offering to cook his chicken recipe for the owner and negotiate a royalty of 5 cents per piece sold if they liked it. The legend is that he was rejected over 1,000 times. The first success came in 1952: Pete Harman, a restaurant owner in South Salt Lake, Utah, agreed to try the recipe. First-year sales tripled. Harman's sign painter, Don Anderson, coined the name "Kentucky Fried Chicken." Harman also invented the bucket.
1964
600 locations — sold for $2 million — and the complaint letters begin
By 1963, the Colonel had 600 KFC franchises across the US, Canada, the UK, Mexico, and Jamaica. The growth had outrun his ability to manage it. In 1964, at age 73, he sold Kentucky Fried Chicken Corporation to a group of investors led by John Y. Brown Jr. and Jack C. Massey for $2 million (approximately $20 million today). Sanders retained a lifetime salary, remained the brand ambassador, and immediately began sending complaint letters to franchisees about changes to his recipe. He called the gravy "pure wallpaper paste," consistently criticised the chain's quality, and was sued (unsuccessfully) for defamation by a KFC franchisee whose food he had publicly criticised.
1986
PepsiCo, Tricon, Yum — the corporate ownership carousel
KFC changed hands multiple times after Sanders' 1964 sale: Brown and Massey sold to Heublein in 1971 for $285 million; R.J. Reynolds acquired Heublein in 1982; PepsiCo acquired KFC in 1986. In 1997, PepsiCo spun off its restaurant businesses — KFC, Pizza Hut, and Taco Bell — into a separate company called Tricon Global Restaurants, later renamed Yum! Brands. Under Yum!, KFC expanded aggressively in China — where the Colonel's image resonated powerfully — becoming one of the most profitable foreign brands in the Chinese market with thousands of locations.
2024
30,000 restaurants — 147 countries — Saucy concept launch
KFC operated approximately 30,000 restaurants in over 147 countries as of 2024, making it the world's second-largest restaurant chain by number of locations after McDonald's. Yum! Brands as a whole generated approximately $7.1 billion in total revenue for 2024. In late 2024, KFC launched "Saucy" — a new restaurant concept in Orlando, Florida, featuring chicken tenders, 11 dipping sauces (a nod to the 11 herbs and spices), and a bright pink colour scheme replacing the classic red and white. In February 2025, the company announced KFC headquarters would relocate from Louisville, Kentucky — where the Colonel had built his empire — to Plano, Texas. Kentucky was not pleased.
The Numbers
market cap Private (Key brand under Yum! Brands)
revenue $32.1B (FY2025 system-wide sales)
net income Highly profitable (Core global profit driver for Yum!)
employees 14,000 (Corporate & direct operations)
ipo year Private (Spun out with Yum! Brands in 1997)
ipo price N/A
current ceo David Gibbs (CEO of parent Yum! Brands)
revenue forecast $33.8B (2026 system-wide estimate)
Who Owns KFC
Yum! Brands, Inc.
Fully owned flagship subsidiary of parent NYSE: YUM
100%
Frequently Asked Questions
Who founded KFC?
KFC was founded by Colonel Harland Sanders.
When was KFC founded?
KFC was founded in 1952.
Where was KFC founded?
KFC was headquartered in Plano, Texas (formerly Louisville, Kentucky).
Why was KFC created?
Harland David Sanders was born in 1890 in Henryville, Indiana. His father died when Harland was 6, leaving him to cook for his younger siblings. He dropped out of school at 12, left home at 13, and spent the following decades accumulating an extraordinary record of failed ventures: railroad worker, streetcar conductor, insurance salesman (fired), ferry boat operator (made obsolete by a bridge), oil lamp manufacturer (obsoleted by electricity), lawyer (disbarred after a courtroom fight with his own client). In 1930, aged 40, he converted a Shell filling station in Corbin, Kentucky, into a small diner, cooking for travellers who stopped for petrol. His fried chicken, pressure-cooked using his own recipe, became locally famous.
What does KFC do?
Colonel Sanders was rejected over 1,000 times. Started franchising at 65. Built a fried chicken empire. Then sold it for $2 million and spent the rest of his life complaining about the gravy. Colonel Sanders was rejected 1,009 times. Started franchising at 65. Sold KFC for $2 million. Spent the rest of his life complaining about the gravy. 30,000 restaurants. The full story.
How did KFC grow?
KFC operated approximately 30,000 restaurants in over 147 countries as of 2024, making it the world's second-largest restaurant chain by number of locations after McDonald's. Yum! Brands as a whole generated approximately $7.1 billion in total revenue for 2024. In late 2024, KFC launched "Saucy" — a new restaurant concept in Orlando, Florida, featuring chicken tenders, 11 dipping sauces (a nod to the 11 herbs and spices), and a bright pink colour scheme replacing the classic red and white. In February 2025, the company announced KFC headquarters would relocate from Louisville, Kentucky — where the Colonel had built his empire — to Plano, Texas. Kentucky was not pleased.
Who owns KFC?
Yum! Brands, Inc. owns 100% (Fully owned flagship subsidiary of parent NYSE: YUM)
How much of KFC does Yum! Brands, Inc. own?
Yum! Brands, Inc. owns 100% (Fully owned flagship subsidiary of parent NYSE: YUM)
When did KFC go public?
KFC had its IPO in Private (Spun out with Yum! Brands in 1997), with an initial share price of N/A.
How many employees does KFC have?
KFC has approximately 14,000 (Corporate & direct operations) employees.
What is KFC's revenue?
KFC generated $32.1B (FY2025 system-wide sales) in revenue. Analysts forecast $33.8B (2026 system-wide estimate).
What is KFC's market cap?
KFC has a market capitalisation of Private (Key brand under Yum! Brands).
Who is the CEO of KFC?
The current CEO of KFC is David Gibbs (CEO of parent Yum! Brands).
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